Here's how the Markets opened today

Indian shares hit 2-week lows on Tuesday ahead of the Reserve Bank of India's bi-monthly meeting and after a global sell-off in equities following a debt-scare at commodity giant Glencore.

Global metals trading firm Glencore was under heavy selling pressure in overseas markets on fears that it may face a ratings downgrade on the back of a sharp fall in metal prices and a slow down in China. As a consequence, stocks across the globe took fright. Meanwhile, traders on Dalal Street are fence sitters as they wait patiently to hear RBI Governor Raghuram Rajan's view on the global economy.

Meanwhile, the Nifty fell 79 points to trade at 7,716 in initial deals on Tuesday. Predictably, commodity stocks were the worst hit. Vedanta, Tata Steel, Bharti, ICICI Bank and Idea were the top five losers on the index while the defensive nature of the market came to the fore with Infosys, HCL Tech and Tech Mahindra grabbing the first 3 gainers slots on the Nifty. The Index had an Advance-Decline Ratio of 4/46.

Infosys, IDBI and Axis Bank were the most active stocks on the National Stock Exchange.

Heavy sales were seen on the broader markets where the CNX 100, CNX 200 and CNX 500 indices dropped nearly a percent each. Similar losses were seen on the Small Cap and Mid Cap indices. The sector-specific benchmarks were also in the red with the Bank Nifty dipping 1.7 percent. Benchmarks representing the Metals, Realty, Auto and Pharma sectors saw strong down drafts.

Sentiment was equally bearish on the Bombay Stock Exchange where the Sensex shed 227 points, or 1 percent, to 25,389 points. Hindalco, ONGC, NTPC, Sun Pharma and Lupin were among losers while Coal India and Infosys saw green ticks. The Advance-Decline Ratio on the Sensedx stood at 4/26 and ICICI, Axis Bank and Larsen were the most active shares on the index.

Bears were in control of the floor with 1,186 shares declining in the wider market compared with 489 that rose above their Monday's close.

All sectors traded in the red on the futures and options space with cement, realty and metal stocks futures notching up big losses.

Image credit: Indiatimes